Ferrari N.V. is an Italian games auto producer situated in Maranello. Established by Enzo Ferrari in 1939 out of Alfa Romeo's race division as Auto Avio Costruzioni, the organization fabricated its first auto in 1940. However the organization's beginning as an automobile maker is normally perceived in 1947, when the principal Ferrari-badged auto was finished. In 2014, Ferrari was appraised the world's most effective brand by Brand Finance. In May 2012 the 1962 Ferrari 250 GTO turned into the most costly auto ever, offering in a private exchange for US$38.1 million to American correspondences head honcho Craig McCaw. Fiat S.p.A. obtained 50 percent of Ferrari in 1969 and extended its stake to 90 percent in 1988.